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Emirates Airlines To Accept Bitcoin As Payment Option

Emirates
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May 13, (THEWILL) – One of the UAE’s leading airlines, Emirates, has announced plans to add Bitcoin as a part of its payment option.

Emirates also said its websites will feature Non-fungible Token (NFT) collectables for trading purposes.

Speaking at the Arabian Travel Market, Emirates’ Chief Operating Officer, Adel Ahmed Al-Redha, said the airline will recruit additional workers for metaverse and NFTs to build apps that will monitor consumer demands.

Al-Redha, who said that NFT and metaverse are two different approaches, noted that the airline would utilise blockchain technology to trace aircraft records.

“With the metaverse, you will be able to transform your whole processes whether it is in operation, training, sales on the website, or complete experience into a metaverse type application, but more importantly making it interactive”, said Al-Redha. Adding that Emirates would adopt innovative digital technologies such as blockchain, metaverse, and cryptocurrency to engage with consumers in a faster and more flexible manner.

On its post-pandemic recovery, Al-Redha, citing the increase in number of passengers, said the sector had recovered well.

He, however, said that the accessibility of the resources throughout the network is the most significant obstacle, but he added that they “are in a better position than other countries because of the accessibility.”

Although Emirates is yet to announce a date for the adoption of Bitcoin as a payment option, THEWILL reports that the global cryptocurrency market hit its lowest point in history earlier this week, with Bitcoin falling below $30,000 per coin, causing panic among millions of investors.

The whole global cryptocurrency market fell 13%, hovering around $1.37 trillion in market capitalisation, its lowest level this year. Bitcoin had dropped more than 55% from its all-time high of $69,000, in November 2021.

But on Friday, data from coinmarketcap.com, shows Bitcoin appreciated 9.4% to around $30,4018.